HomeMy WebLinkAboutItem #06 Transfer of Capital Improvement Program Funds to Cover Additional Costs on the Maguire Road Ph 5 Project for FY 2009-2010
Meeting Date: June 15, 2010
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Subject: Transfer of Capital Improvement Program funds to cover additional costs on the Maguire
Road Phase 5 Project for Fiscal Year 2009/2010.
Item #
(0
Contact Name:
Contact Number:
David A. Wheeler, P.E.
407 -905-3100, ext 1504
Reviewed By:
Department Director:
City Manager:
Background Summary:
Phase 5 of the Maguire Road projects consists of the widening from a two lane section to a partial five lane and
partial four lane divided road section from Mercantile Court to Geneva/Story Roads. The project also includes
sidewalks, traffic signal at Marshall Farms Road, relocation of a sewer force main, and stormwater collection
and pond system.
Staff and outside legal council are in the process of obtaining additional right-ot-way along the roadway and
land for the stormwater pond. The project budget for right-of-way and land purchase was $2,000,000. Two of
the right-of-way parcels and the stormwater pond parcel have been obtained. In addition, initial deposits
against the cost of the right-of-way have been made on two other parcels in the project. These two parcels
have agreed to the public need and necessity taking but final cost has not been negotiated or mediated. The
following table show the costs expended to date. The overage in ROWand land purchase has been covered
by unencumbered funds in the overall project budget. There are only $35,000 left in unencumbered funds in
the overall project budget.
Groundtek $388,764 Total Cost
Lakedon 106,780 Total Cost
Armstrong 1,584,046 Land plus some leaal and interest
Rimas 12,038 Deposit Against Land
Dobson's 98,080 Deoosit Aqainst Land
Total Expended to Date 2,189,709
Brighthouse Networks has agreed to a negotiated cost of for the right-of-way needed within their property. The
closing is set for June 17, 2010. The following table details known additional costs on the Armstrong parcel
purchase and costs the City incurred during the same purchase. These costs will need to be covered this fiscal
year.
$70,000
87,051
12,000
20,350
3,375
82,500
raisals, etc.
Known Additional Costs
$275,276
The costs to finalize the Rimas and Dobson's right-of-way purchase and the total costs for the Milner and Irwin
right-of-way costs are estimated to be $500,000. That cost estimate includes the right-of-way, legal, appraisals.
witnesses, and expenses. These costs will be shown in next fiscal year's CIP budget.
The Capital Improvements Program budget currently includes a traffic signal at Clarke Road and Ocoee Vista
Boulevard and a turn lane on McCormick Road as part of the Ingram Estates residential development. Current
traffic warrants do not show the need for a traffic signal at Clarke Road and Ocoee Vista Boulevard at this time.
The Ingram Estates development is in foreclosure and no other party has surfaced interested in the
development project. Therefore, staff proposes to push these projects out until they are needed and transfer
the budgeted funds to the Maguire Road phase 5 project to cover expenses for the remainder of the fiscal year.
The traffic signal and turn lane projects will appear in the next Five Year CIP Program out in year four or five.
The amount of the transfer is $370,000.
Issue:
Transfer of Capital Improvement Program funds to cover additional costs on the Maguire Road Phase 5 Project
for Fiscal Year 2009/2010.
Recommendations
Staff recommends the delaying of the traffic signal at Clarke Road and Ocoee Vista Boulevard until it is
warranted and transferring the budgeted funds to the Maguire Road phase 5 project and the transfer of the
encumbered funds for those two projects to the Maguire Road phase 5 project to cover the additional cost
incurred to date.
Attachments:
None
Financial Impact:
The transfer of funds will not impact the overall Capital Improvements Program budget but it will allow the City
to cover costs expected on the Maguire Road phase 5 project to the end of this fiscal year. The amount of the
transfer is $370,000.
Type of Item: (please mark with an "x")
Public Hearing
Ordinance First Reading
Ordinance Second Reading
Resolution
Commission Approval
Discussion & Direction
For Clerk's Deat Use:
Consent Agenda
Public Hearing
Regular Agenda
Original DocumenUContract Attached for Execution by City Clerk
Original DocumenUContract Held by Department for Execution
Reviewed by City Attorney
Reviewed by Finance Dept.
Reviewed by 0
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